TMX has been streamlining its corporate structure for the last three years in an effort to become more agile.Mark Blinch/Reuters
Nick Thadaney is leaving TMX Group Ltd. as part of a broader shuffle at the top ranks of Canada's largest stock market operator.
As the head of global equity capital markets, Mr. Thadaney ran the listings and trading businesses across the Toronto Stock Exchange, TSX Venture Exchange and TSX Alpha Exchange. The company is now separating the equity listings and trading functions, eliminating Mr. Thadaney's role this week.
TMX has been streamlining its corporate structure for the last three years in an effort to become more agile, collaborative and client-focused, Lou Eccleston, the company's chief executive officer, said in a statement.
"This week, we have taken further steps to adapt and transform TMX into the organization our clients need us to be," he added. "Included in these changes is the uncoupling of the capital formation and equity trading operations within the equity capital markets business."
Mr. Thadaney will stay with the company in a special advisory role for the next six weeks. Before joining TMX in 2015, he was the CEO of ITG Canada Corp. since 2005.
Luc Fortin, the head of the Montreal Exchange, will also take on the role of global head of trading at TMX, leading its derivative, fixed income, private markets and equity trading businesses. Kevin Sampson is now the president of equities trading, reporting to Mr. Fortin.
Ungad Chadda, who had been the president of the listings business, will move into a new role focused on crafting the TMX's strategy and expanding its investor base globally. Loui Anastasopoulos, who was in charge of TSX Trust, will be in charge of stock listings.